Climate-Controlled Industrial Building For
For Sale
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2504 Spring Ridge Dr, Spring Grove, IL 60081
41,200 SF climate-controlled industrial building on 2.5 acres.
Property Size41,200 SF
Lot Size2.50 Acres
Price / SF$77.67
Days on Market172
Property Features for 2504 Spring Ridge Dr
General Information
Standard status
Active
Size
41,200 SF
Lot size
2.50 Acres
Property subtype
Industrial
Zoning
I
Lease Type
Modified Gross
Building Details
Year Built
1999
Stories
2
Tenancy
Single
Listing Agency:
Entre Commercial Realty LLC
(847) 854-2300
Listed By:
Kevin Kaplan, CCIM · License #IL 475168120
Source:
Crexi
Added: Feb 26
Changed: Aug 16
Last Checked: Aug 13 at 1:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Entre Commercial Realty LLC
Investment Insights
Based on property information with market context.
This free-standing industrial building, constructed in 1998, offers 41,200 square feet of space on a 2.5-acre lot in Spring Grove, Illinois. The building is fully climate-controlled and features elevator access and a sprinkler system. It has a heavy power capacity of 3,000 Amps/480V and ample parking space. The building includes approximately 9,000 square feet of finished space on each level, with ceiling heights ranging from 19 to 20 feet. Equipped with 2 truck docks and 2 drive-in doors, the property provides access for various operations. It is serviced by well water and municipal sewer. Located in McHenry County, the property offers easy access to the Rt. 12 corridor and has potential for outside storage. The property is suitable for a user or user/investor. The current owner is open to leasing back part of the space or relocating.
Key Highlights
- Fully climate‑controlled, free‑standing industrial building with 41,200 SF on a 2.5‑acre lot.
- Heavy power capacity: 3,000 Amps/480V.
- Includes 2 truck docks and 2 drive‑in doors.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$215,356
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,307,120
$4.3M
Cap Rate 7%
$3,076,514
$3.1M
Cap Rate 9%
$2,392,844
$2.4M
Market Conditions
NOI Build-Up for 41,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$267.0K $6.48/SF
− Vacancy
−$13.6K −$0.33/SF
EGI
$253.4K $6.15/SF
− OpEx
−$38.0K −$0.92/SF
NOI
$215.4K $5.23/SF
Area
McHenry County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,307,120
Cap Rate 7%
$3,076,514
Cap Rate 9%
$2,392,844
Alternative Uses
Best Use
Warehouse
$3.08M
$2.69M – $3.59M
NOI $215,356 @ 7.0% cap · market cap 6.73%
Second Best
Industrial
$2.53M
$2.22M – $2.96M
NOI $177,352 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$14.22M
$12.45M – $16.60M
NOI $995,714 @ 7.0% cap · market cap 31.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60081, IL
9,396
Population
3,436
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
94%
High-School Grad
19.7 sq mi
ZIP Area
477
Density / Sq Mi
$116,278
Median Household Income
$52,404
Median Earnings
$1,204
Median Rent
$332,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Spring Grove Storage — 2502 Spring Ridge Dr, Spring Grove, IL 60081
- Self-Storage at U-Haul — 2549 Pierce Dr, Spring Grove, IL 60081
Frequently Asked Questions
What type of property is this?
Warehouse - 41,200 SF climate-controlled industrial building on 2.5 acres.
Where is this warehouse located?
The property is located at 2504 Spring Ridge Dr Spring Grove, IL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Fully climate‑controlled, free‑standing industrial building with 41,200 SF on a 2.5‑acre lot.; Heavy power capacity: 3,000 Amps/480V.; Includes **2 truck docks and 2 drive‑in doors**.
